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about washington, the cliff cliff and as we head to action, we'll check out the price of gold. this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each morning. 24 hours. zero heartburn. >>> let's get the national forecast now from the channel's wolf reynolds. >> are you mad? >> i'm not mad. i answer to wolf reynolds, reynolds wolf, i answer to everything. and then at home i hear all different kinds of names together. >> they're both actor names that people make up to be cool. either way, it's good. it's republicynolds wolf. >> let's show you what's happening out west. we have spotty showers along the coast and snow showers along the coast. still scattered snow showers in parts of the -- let's see, parts of the mountains in california. not only portions of the san gabrielle mountains, but also the mountains in sierra, nevada. it's going to cause some backups in
.1 billion to settle a u.s. class action over claims that millions of its vehicles accelerate unintentionally. the proposed settlement will compensate customers for economic losses related to possible defects in toyota vehicles. it covers most of the litigation involving unintended acceleration. so it does not cover claims for wrongful death or injuries. >> what a racket, though. >> the torque. plaintiff lawyers. $1.1 billion. >> do the math. >> that will always be -- >> and the plaintiffs get a third. is that how this works usually? >> that will always be a great business. won't it? it will always be a great business when you have someone like toyota. i don't know what happened with those. toyota tried to claim it was like use error. >> and then people said it was the mat. >> i don't know what finally came of it, but it was -- >> they never really said. >> no, but it was $1.1 billion, with a "b." >> nobody knows that it was, but you asked for it and you got it. >> yeah, yeah, yeah. and the guys that did the class action -- i don't know what firm the was. probably a bunch of them. >>> amazon
we see action? the farther we get away from these things, the harder it is to push reforms if, in fact, reforms are to be pushed? >> well, you know, i wouldn't expect congress to pass a bill in the next couple of weeks. so i would expect this to be an issue after that. obviously, we have a huge deficit issue to deal with. really, the marketplace is open right now for negotiations in a way that it wasn't until john boehner conceded a need on tax increases for people at the top. so i would expect on parallel tracks, you're going to find a continued negotiation on the fiscal cliff with a signs of optimism right now that the spos pekt that we are going to avert the cliff. and then in the early part of 2013, i would expect shortly after the inauguration, the president would lay down a set of principles or steps that the country could take, could even be before his inauguration. congress takes office -- the new congress takes office before the president begins his new term, so you could see some things percolating on capitol hill. house more difficult than the senate, of course, bec
. >> good to have you. in corporate news, netflix, regulators warning they may bring civil action against the company and its ceo for violating public disclosure rules with a facebook post. reed hastings posted netflix monthly viewing exceeded 1 million hours ever. they're required to make full and fair public disclosure of material nonpublic information and hastings i guess thought it was okay and it's a gray area. isn't that full and fair? >> i think it is a gray area because we've always made the argument if you're watching cnbc it's okay because this is a public disclosure, right? i guess facebook maybe it's different because you have to be a friend to be able to get access to that information. if it was twitter, maybe a different story. i wonder if that's how deeply they're digging into this. >> he doesn't think there's anything. he dismisses the contention saying he doesn't believe the facebook post was even material information. it wouldn't take a lot of -- you'd have to do the math to figure out what that says about the results for the quarter. in a letter yesterday he suggested t
take a big reaction in the markets to get any serious action in washington. if they're not seeing that, that may make it less likely for them to reach any sort of a grand deal. in fact, a grand deal at this point is probably off the table. what does that mean for the next three to six months for the u.s. markets? >> yeah. waiting to come on the show, i was looking at a chart of the various u.s. markets going back since before the election. and which have sort of gone through some phases. in a way, the markets have sort of factored in from the first immediate period following the election a big deal to resolve the situation in the u.s. is not going to happen. the lying fiscal challenges in the u.s. are not going to be resolved anytime soon. that would be a big surprise and, obviously, if it was one that appeared that didn't damage the economy, that would be enough. but i think most people are resigned to democracy and maybe this is a broader issue about western democracy. unless the markets do put governments under pressure, it's not easy to come up with such tough positions and i suspe
. so, can i sell it to you? i can't sell it with passion. but i will say that this is action in a city called washington, or sometimes in texas we call it washington-stand where people never get anything done or don't appear to be easily able to get things done. we do get things done. we make a decision and we proceed. >> i think that's one thing you can say about the fomc and this leader's chairmanship. we're going in new direction. the question is, is the efficacy of what we're doing solid or not? we'll continue to examine that. and if it's not, we're going to have to change course. it's the best i can tell you, joe. >> i understand. i understand. and you're a reasonable, calm, conciliatory, collegial, the fed is very collegial. but i would -- >> that's right. >> -- at some point wonder whether you might just snap? because you've been on in the past, with much less significant, and much less -- much smaller actions were being taken that really raised your eyebrows, and i -- that we know you really weren't behind. and maybe it's the, you know, as it keeps happening nothing surprises u
of action. >> where were you yesterday? >> i was here. we were together. >> were we ever with our -- no. but there were duelling senate leaders just -- first mcconnell came on. and he said -- did you see either one of those? >> i did. >> did you see harry reid? >> there's no chance of -- >> but if you think -- i want to rise above. there was so little of anything close to that yesterday other than just the -- i mean, people at home must be like, it's the endless blaming and finger pointing and, you know, when one side says it's all the other side's fault and all the other side comes on and says people at home aren't going, wow, i believe you, harry. or i believe i, mitch. they're saying you're both losers, right? >> right. >> my real concern is this is what the current version of america actually voted for. >> the house is different. all politics is local. harry reid, you know which interest he satisfies. >> they're not that far apart. if you look at the negotiating positions, they're not -- >> they're emotionally far apart. >> for that bigger deal. >> so, really, the numbers aren't tha
at the whole comprehensive issue. and then we can kind of figure out what the right course of action is. to cherry pick any one issue at this point really doesn't serve everyone's interests as well as it can. >> are you optimistic that we're reading that corporate tax reform is on the table, to get really something don that front? >> well -- >> what do we want that to look like? >> michelle, that's an awfully big issue in a short amount of time. i've been very clear about what southern company is willing to do. so let's assume we keep what we have and keep normalization in place, going forward we would be willing to trade all of our tax preference items in exchange for certainty around a lower corporate income tax rate. the math for us from an indifference standpoint equals about 25%. >> well, go ahead -- >> well, yeah. i think it gets tough for these tax preferences. i think if -- i'm not sure that's the position most businesses are in because every one of those tax preferences is in there because somebody says if i get it i'll create jobs, if i get it, i'll -- i'll invest more. than i
second weekend in a row. its domestic total is over $150 million after ten days. and tom cruise's action thriller, "jack reacher" debuted in second place. he kicks a -- $15.26 million he got. >> so we went to the movies this weekend. and we saw "this is 40." >> not great reviews. >> almost dpred depressing a little bit. almost too realistic. >> that's what happens when you return 40. you get a little depressed. then you hit 50 and then you realize 60 is the new 40. and then you realize any of the alternatives to aging are much worse than aging and you kind of come to grips with that. >> i had a mixed feeling. were the reviews actually lousy? >> yeah. >> i wish i had known that before. >> paul rudd and -- and apatose. she has to watch paul rudd make out with his wife constantly when this is all going on. i was thinking about that. and all the kids in the film are appato's kids. >> oh, really? >> yeah. he's making the film with his family and it's all about -- anyway, all with his family. >> watching -- you know, i don't know what he's into, but so he's got his wife making out with this gu
to serve jpmorgan with a formal action alleging weakness in its antimony laundering system. in the front page article in the ft today, three former deutsche bank employees say the firm failed to recognize up to $12 billion in paper losses during the financial crisis. the individuals have made complaints to u.s. regulators, including the sec. employees say deutsche bank misvalued a large derivatives position known as leveraged super senior trades. probably shall wiggle room. they allege its capital would have fallen to dangerous levels that might have required a government bailout. a lot of people weren't marking things where needed to go. >> i have a lot of questions about this story. it's an amazing allegation. $12 billion in paper losses. >> a lawyer from one of the whistle blowers will join us at 6:50. in a statement to cnbc, the bank says that allegations have already been investigated and all accounting was proper. >> my biggest questions are the allegations say the bank was doing it 2007 to 2010 and nobody came forward until late 2011 to make any complaints. i just wonder if you ha
sale to i.c.e., saying it undervalues the company stock. the lawsuit seeks class action status on behalf of other shareholders and aims to block the sale. another case of just -- you know, too many lawyers, too little to do. >>> and -- or not. i'm just -- we should put commentary on that. shouldn't we? but every time any deal is announced, there's always going to be some shareholders that wish they got more. and there's going to be a willing lawyer to say, okay, i'll take the case. >> pretty healthy premium. >> yeah. exactly. but that doesn't mean a lawyer -- >> it may not be enough. >> it's never enough. if you're going to wear a brioni tie. nice. did i out you? >> why, are those really expensive? >> no. it was a gift. my god. we got to zoom in? >> i mean, it's quite a thing to behold. >>. i don't think so. >> i think we ought to bump in and out -- >> i think every -- it's a beautiful tie. >> do you remember i also have the bernanke tie, where he's throwing money out of a helicopter? >> i have one, but i have one where -- this year's was bernanke and draggy. >> both in a helic
. if congress doesn't take action, the fdic will stop making guarantees on zero interest bank accounts and services. the guarantee will revert to the normal $150,000 for insurers at any given bank. if so-called t.a.g. money leaves these banks, then the troubled list might find a lot more names on it. but, again, these were all temporary things put out there. it has been four years and counting since the financial crisis. at some point, you expect to see these things reverse. >>> the federal reserve dominates this week's calendar. the fomc will gather for a two-day meeting tomorrow. the fed is expected to maintain its bond buying at $85 billion a month, replacing operation twist with purchases of longer term treasuries funded by new money creation because they're running out of these longer things to twist into. they're going to have to start creating money or twisting money, whatever you want to call it. chairman bernanke will meet on wednesday afternoon to cover the federal reserve's positions. we'll cover that live. >>> right now, dow futures down by 35 points. s&p down by 45 points.
an item on his blog. at the time, it was not clear that you will that they were going to take any action. there was a question about whether they should be donating money to education programs. clearly overnight -- >> they're putting it up for sale. >> let me read what they sale. they said it's apparent that the ansi hook tragedy has raised questions regarding gun control to a new level. our role is to take positions for investments. it is not our role to take a role regarding gun control. >> they're going to take a hit on it right now, too. >> i imagine they will. >> not the best time to be selling. >> in truth, it looks like it's been quite a successful investment for them. again, will there be a tremendous discount selling? >> right. >> you don't know. but given that other teachers pensions and others did have stakes in this and probably are now saying, we've got to get out of here, this is -- >> they sold it probably law enforcement agencies and the military. >> absolutely. and i should say colt defense, which i had mentioned earlier, blackstone has a piece of that. there are a numbe
report. kelly evans is standing by in london. a lot of action over there today. >>> thank you. there really has been. and in fact, it's the greek banks which are leading the way. i can't remember the last time we said that. if you look at trading broadly, it's the most beaten down areas where we're seeing the strength this morning. again, here are some of the names to mention whether it's the national bank of greece. we saw these up in the range of better than 8% earlier. now in the range of 5% to 8%. again, if you look at the levels, you see we're snapping up from low valuations generally speaking. it doesn't take a lot at 63 cents to get an 8% move. >>> quick look over here if you want to take a shot of the wall behind me. it is green for the most part. and greece's borse is one adding 2% today. we're seeing that reflected across the bond space. portugal for example seeing ten-year yields falling. same for spain and italy. the boreses and footy 100, the xetra dax, this has been the outperformer up in the range of 30%. another .3% after the ifo out of germany. came in better
they run play action. open up the space for sanchez. and i watch him throw the ball and it's an interception. i thought what are they talking about? >> i know that it's getting -- i'm starting to feel bad for sanchez. >> he has a guaranteed contract. >> i know, but he's over there taking notes and he's happy when the guy gets a td and he's just a team guy. i like him. >> when we come back, 'tis the season. it must be time for a jobs report. we whether set the trading agenda for the days ahead. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. nespresso. where i never have to compromise on anything. ♪ where just one touch creates the perfect coffee. where every cappuccino and latte is only made with fresh milk. and where the staff is exceptionally friendly. ♪ nespresso. what el
it facilitates the ability for people to get actionable in the marketplace even on a short term basis even if it's negative. and number two, i think that i was an early reader of the shock doctrine. i think it's been applied by both sides now. it's a manifesto for both sides. and that it's crisis management. they drive the market towards crisis as a way of facilitating their political agendas. i think it's folly, but a reality we've been faced with and i think that that's really what your coverage of it is accurate to the extent that that's how politics gets done now. and i'm not a fan of it, but you have to really accept the reality of it. >> kevin, thank you. good to talk to you. >> sure thing. >>> if you have comments or questions about anything you see here, e-mail us at squawk@cnbc.c coming up, the ceo who ploou the whistle on his own company. michael woodford was running olympus until he discovered shenanigans and decided to say something. less than a year later, he's taking the concept of tell all to a new level. if you are one of the millions of men who have used androge
it in the action in the markets. we're seeing it in the interest in the stock markets and everything else. anyway, markets ended up 14 points yesterday. they're indicated up about, what did it say, about 20 points? we're up 20, but fair value is down 20. so we're actually looking for an opening up of about 49 points. >>> coming up, why netflix could end up doomed with its success with children. >>> but next, the unmanned b-shuttle this afternoon. the unmanned mini shuttle will spend months in either's orbit before returning to land on the kennedy space center's runway. but forecasters are now predicting a 70% chance of not launching today due to expected lightning, thick clouds and bad weather. we might be having this conversation again tomorrow. >> announcer: tomorrow, "squawk box" exclusive coverage of the "new york times" conference. investing, the economy and the looming fiscal cliff. jpmorgan chairman ceo jamie dimon. carlyle group cofounder david rubenstein and a lot more. and it all starts tomorrow at 6:00 a.m. eastern on "squawk box." [ male announcer ] how can power consumption in china,
trades with the leader in mobile trading. so she's always ready to take action, no matter how wily... or weird... or wonderfully the market's behaving... which isn't rocket science. it's just common sense. from td ameritrade. >>> welcome back to "squawk box" everyone. take a look for shares of eloqua this morning. this is a marketing firm which is currently halted at this point. $17.92 was the last trade. a little over four months after going public this company is being bought by oracle for $23.50. the company went public on august 2nd at $11.50. total value of the deal is $871 million in cash. >> wonder why they didn't want to try to buy that company before the ipo? maybe wanted to see how it worked out. let's get a check on holiday retailers. chase holiday pulse tracks average ticket prices, transactions volumes and sales volumes each year. how is 2012 shaping up and where are people shopping? joining us chase card services ceo eileen serra. >> good morning. >> it's all e-commerce. that's what we keep hearing? >> that's right. it will be chase holiday pulse tracks all of the agg
ready to take action, no matter how wily... or weird... or wonderfully the market's behaving... which isn't rocket science. it's just common sense. from td ameritrade. >>> welcome back, everybody. only a few trading days left in 2012. joining us is boris schlossberg. our guest hosts barry snap and roger altman are here, as well. japan had been driving things until we went over this plan "b" not being brought to the house floor last night. how did that change the dynamic? >> you know, i think barry had it right. it's less of a fiscal cliff than a fiscal drag. i think that's the right way to describe it. i think the interesting thing as far as the currency market goes, as far as the euro goes, is i think we're starting to correlate back to the dow. as i was looking at the screen, the euro is trading 132. the dow is 13,100. i think if we slice another 100 points off the dow, probably going to slice another 100 points off the euro, as well. the reason why, i think the correlation is back is if the market perceives the fact that the u.s. economy slows down because they can't get a deal don
Search Results 0 to 18 of about 19